Deroy & Devereaux Private Investment Counsel Inc. Grows Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Deroy & Devereaux Private Investment Counsel Inc. grew its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,210 shares of the real estate investment trust’s stock after buying an additional 300 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Gaming and Leisure Properties were worth $3,304,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Pinnacle Associates Ltd. boosted its holdings in shares of Gaming and Leisure Properties by 23.7% during the third quarter. Pinnacle Associates Ltd. now owns 6,573 shares of the real estate investment trust’s stock worth $324,000 after purchasing an additional 1,258 shares during the last quarter. First Trust Direct Indexing L.P. boosted its holdings in shares of Gaming and Leisure Properties by 8.2% during the third quarter. First Trust Direct Indexing L.P. now owns 8,133 shares of the real estate investment trust’s stock worth $418,000 after purchasing an additional 616 shares during the last quarter. Abich Financial Wealth Management LLC boosted its holdings in shares of Gaming and Leisure Properties by 3,191.3% during the third quarter. Abich Financial Wealth Management LLC now owns 757 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 734 shares during the last quarter. Integrated Advisors Network LLC acquired a new stake in shares of Gaming and Leisure Properties during the third quarter worth $209,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Gaming and Leisure Properties by 0.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 88,176 shares of the real estate investment trust’s stock worth $4,439,000 after purchasing an additional 387 shares during the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Scotiabank raised their price objective on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 16th. Stifel Nicolaus lifted their target price on Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a report on Friday, July 26th. Raymond James lifted their target price on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Wells Fargo & Company reiterated an “equal weight” rating and issued a $52.00 target price (up previously from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Finally, UBS Group lifted their target price on Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and a consensus target price of $52.18.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 5,605 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the completion of the sale, the director now directly owns 156,685 shares of the company’s stock, valued at $7,660,329.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director E Scott Urdang sold 5,605 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the completion of the sale, the director now directly owns 156,685 shares of the company’s stock, valued at $7,660,329.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the completion of the sale, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,363 shares of company stock valued at $2,840,781 over the last three months. 4.37% of the stock is owned by insiders.

Gaming and Leisure Properties Stock Down 1.2 %

Shares of NASDAQ GLPI opened at $50.19 on Friday. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $52.60. The firm has a market cap of $13.77 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 2.19 and a beta of 0.99. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The stock’s 50-day simple moving average is $51.15 and its 200-day simple moving average is $47.62.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The business had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. During the same period in the previous year, the firm posted $0.92 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 6.06%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio is currently 106.29%.

Gaming and Leisure Properties Company Profile

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.